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"Goods And Service Tax At All India Level"- how 2 improve this article [5]
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It is always said that for survival one has to change with the time, and one has to develop new techniques to face the latest conditions.
Recently the new central government has taken over with full majority and has started to work on certain pending issues and one of them is GST i.e. GOODS AND SERVICE TAX AT ALL INDIA LEVEL. In a pre budget meeting of state finance ministers, it is almost decided that the new tax regime would be rolled out as per schedule on April 1 2010.
This will dramatically change the entire logistics and distribution system at all India level. The new tax structure is to streamline the movement of goods across India with single tax structure by abolishing the current multiple tax system including central excise. State vat and the service tax - the sum of which runs above 30%.
Many multinational logistics companies are waiting outside the corridor to start their services at all India level. Possibly the transportation will be the simplest system and big companies like CIPLA, ZYDUS CADILA, COLGATE, HINDUSTAN UNI LEVER OR ANYBODY having marketing at all INDIA level will have only four depots at all India level or they will appoint four distribution points at regional level to cover the entire India. Many different hurdles like road permits, 'C' forms, and 'F' forms, form no. 32, form no.38 and other legitimate or illegitimate permits would be withdrawn. Anybody in India can buy stock from anywhere in India and anybody can sell stock anywhere in India.